Brick
New
For Sale
$245,900
305 Jennings Avenue, Greenwood, SC 29649
Residential Income, Greenwood, SC
Property Size1,935 SF
Lot Size0.36 Acres
Price / SF$127.08
Days on Market3
Property Features for 305 Jennings Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
residential
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 4, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5
Parking features
Paved or Surfaced
Interior features
Master Downstairs, Wash/Dry Connect, Ceiling Fan(s)
Subdivision
Not In Subdivision
Elementary school
Woodfield
Middle school
Northside
High school
Emerald
Directions
Jennings Avenue
Standard status
Active
APN
6846-969-242
Size
1,935 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LT32 & 1/2 LT34 JENNINGS HGTS
Legal Description
LT32 & 1/2 LT34 JENNINGS HGTS
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Flooring type
Hardwood
Building materials
Concrete, Brick
Roof type
Shingle
Listing Agency:
Riverstone Realty LLC
(706) 220-2290
Listed By:
Sarah Lauren Muns · License #37736
(706) 951-1183
Added: Aug 31
Last Checked: Sep 2 at 6:06PM
MLS# 100600074
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick duplex contains 1,935 square feet on a 0.36-acre parcel in downtown Greenwood. The property was built in 1953 and features hardwood flooring, central air, forced-air electric heating, ceiling fans, and washer and dryer connections. Paved or surfaced parking is provided, while the shingle roof and concrete construction contribute to the building’s established physical profile.
The property is located at 305 Jennings Avenue in Greenwood, South Carolina, less than 1 mile from Lander University. Public water and public sewer serve the property, with water available and a residential zoning designation. Its downtown setting places the duplex near Greenwood’s central area and campus-oriented activity.
The property is located at 305 Jennings Avenue in Greenwood, South Carolina, less than 1 mile from Lander University. Public water and public sewer serve the property, with water available and a residential zoning designation. Its downtown setting places the duplex near Greenwood’s central area and campus-oriented activity.
Key Highlights
- Duplex with 1,935 square feet of property size
- Situated on 0.36 acres in downtown Greenwood
- Less than 1 mile from Lander University
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,547
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$190,940
$190.9K
Cap Rate 7%
$136,386
$136.4K
Cap Rate 9%
$106,078
$106.1K
Market Conditions
NOI Build-Up for 1,935 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.7K $10.20/SF
− Vacancy
−$6.1K −$3.15/SF
EGI
$13.6K $7.05/SF
− OpEx
−$4.1K −$2.11/SF
NOI
$9.5K $4.93/SF
Area
Greenwood County, SC
Vacancy
30.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$190,940
Cap Rate 7%
$136,386
Cap Rate 9%
$106,078
Alternative Uses
Best Use
Multifamily LT 5
$136.4K
$119.3K – $159.1K
NOI $9,547 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$94.9K
$83.0K – $110.7K
NOI $6,640 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$607.9K
$531.9K – $709.2K
NOI $42,550 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
796
Businesses Nearby
Explore this area
Business Placement
Demographics for 29649, SC
27,485
Population
11,966
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
93%
High-School Grad
53.6 sq mi
ZIP Area
513
Density / Sq Mi
$56,268
Median Household Income
$37,221
Median Earnings
$937
Median Rent
$207,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Downtown duplex with private living spaces, paved parking, and proximity to Lander University.
Where is this duplex located?
The property is located at 305 Jennings Avenue Greenwood, SC.
What is the asking price?
The asking price for this property is $245,900.
What are key features of this property?
This property features: Duplex with 1,935 square feet of property size; Situated on 0.36 acres in downtown Greenwood; Less than 1 mile from Lander University
